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HEDGE FUNDS | , Singapore

Published: 21 Jan 09

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SuperDerivatives to power S&P's new Credit Default Swap Indices

SuperDerivatives (SD), the derivatives benchmark, today announced that its credit derivatives platform, SD-CD, has been chosen by Standard & Poor’s to power its new Credit Default Swap (CDS) Indices, launched today.

The three new indices—the S&P 100 CDS, the S&P CDS U.S. Investment Grade (IG) Index and the S&P CDS U.S. High Yield (HY) Index—are focused on the respective sectors of the dynamic Credit Derivatives market. All three indices will use SD-CD for daily valuations and distribution.

Additional credit indices, also powered by SD, are expected to be introduced by Standard & Poor’s in the coming months.

“Standard & Poor’s is pleased to select SuperDerivatives to play a key role in the launch of our new CDS indices,” says James Rieger, vice president of Index Services at Standard & Poor’s.

“Following rigorous evaluation, we have chosen the SD-CD platform as our calculation benchmark for credit derivatives, bringing deep analytics, broad instrument coverage, and superior functionality to our family of new CDS indices.”

Standard & Poor’s CDS Indices will be featured on the SD-CD platform along with other credit derivatives instruments. SD-CD covers a broad range of credit derivatives instruments such as CDSs, CDS indices, credit baskets and CDOs. It provides intraday two-way pricing, portfolio utilities and market risk metrics.

David Gershon, president and CEO of SuperDerivatives, said: “We are delighted to have been chosen by Standard & Poor’s as a strategic component of their CDS indices.“From the feedback we have received it is evident that SD-CD has proven itself to be an exceptionally accurate and convenient platform, consistently producing prices that reflect the inter-dealer market consensus.“Our fully automated platforms are optimised for the management of custom indices—both in credit and all other major asset classes.”

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